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Licensed Restaurant Hove Low Overheads For Sale

Hove, East Sussex, UK
Asking Price:
£60,000
Turnover:
£182,000
Net Profit:
Undisclosed

This is a fantastic opportunity to acquire a superb restaurant with an outstanding reputation. The restaurant comes to the market in very good condition and is located a few minutes’ walk from Hove’s seafront and is surrounded by residential properties, which is an up and coming area.

The restaurant is located on a buoyant parade of shops called Victoria Terrace, which is located on the Kingsway, which is the main seafront road traversing Brighton and Hove, which ensures a high footfall throughout the year. There are also several residential developments taking place in the nearby area. The restaurant is also only a short walk away from Church Road and the popular shopping area of George Street but has the benefit of much lower overheads compared to properties in that area.

The restaurant has been in the current vendor’s hands for 10 years and during this time has created excellent goodwill, with a 4.6* rating on Google Reviews, 4.7* on Facebook and 4.6* on Trip Advisor. At present the vendor offers an Italian sharing concept menu on Friday and Saturday evenings, with a range of sandwiches and light bites available during the week. There is substantial area for growth by extending the opening times.

Property Information

Property:

Leasehold

Lease Terms:

The premises are held on a full repairing and insuring lease, which has approximately 9 years unexpired at a current rent of £13,000 per annum. Rent reviews to take place every 3 years.

Leasehold Rent:

£13,000 per annum

Location:

The restaurant comes to the market in very good condition and is located a few minutes’ walk from Hove’s seafront and is surrounded by residential properties, which is an up and coming area. The restaurant is located on a buoyant parade of shops called Victoria Terrace, which is located on the Kingsway, which is the main seafront road traversing Brighton and Hove, which ensures a high footfall throughout the year. There are also several residential developments taking place in the nearby area. The restaurant is also only a short walk away from a popular shopping area of George Street but has the benefit of much lower overheads compared to properties in that area.

Premises Details:

The restaurant and deli comes to the market in good condition with regular maintenance and decorating taking place. The ground floor provides covers for 24 inside with an additional 10 covers available outside should a new owner wish to capitalise on the pavement licence which is available. The council have also announced plans to extend the payment outside of the restaurant which would allow for a total of 20 covers outside. At the front of the premise is the serve over counter and refrigerated deli counter. There is also a small preparation and cooking area towards the rear of the premise which includes full extraction, and there is a larger kitchen area in the basement which is fitted with extraction and includes a double pizza oven and has a separate washing up area. There would certainly be an opportunity for the new owners to increase the seating on the ground floor, by fully utilising the kitchen downstairs. There is a separate store room downstairs along with an office and the customer toilet.

Business Operation

Management type:
This business is owner operated.
Reasons for selling:

other interests

Trading hours:

hours 9am-2pm Monday Saturday and 6pm-10 on Friday and Saturday.

Employees:
5 part time front of house staff and 1 full time chef.
Years established:
10

Other Information

Related Documents: